Back
Accelerate Fund III invests in CARE Group to expand digital mental health technologies and programs
Edmonton, AB, May 15, 2024 – Accelerate Fund III today announced its investment in the CARE Group of Companies (CARE Group), an Alberta-based health innovation and technology company focused on digital mental health technologies and programs. Their strategic financing round attracted over $2M and included participation from Accelerate Fund, strategic angel investors and family offices.
CARE Group is reshaping the landscape of mental health care with innovative digital health technologies and programs, tailored to address the unique needs of underserved communities including indigenous populations and remote areas. The company’s platforms integrate virtual care with real-time monitoring and personalized patient engagement, delivering improved health outcomes at a lower cost.
“As global mental health worsens and barriers to access treatment persist, millions of people are not getting the care they need, especially in our rural, remote and indigenous communities,” explains Ray Yue, Co-Founder and CEO of CARE Group. “Our digital mental health technologies and programs are designed to meet the diverse needs of each person where they are at in their own journey, on their schedule and at their convenience – our tech helps to improve patient outcomes and save lives.”
CARE Group also offers customizable enterprise virtual care platforms for health organizations, indigenous communities, clinics, and service providers to enhance their intake processes, streamline patient management and prioritize quality care. Community agencies such as the Central Alberta Child Advocacy Center (CACAC) are innovating with CARE Group technology to expand their capacity in providing essential mental health supports to youth and their families. Additionally, a growing roster of urban, remote, First Nations and rural communities are using CARE Group technology to enhance community mental health and addictions supports.
“As clinicians with decades of experience in healthcare, the founding team deeply understands the needs and challenges from both a patient and service provider perspective,” said Yasmine Al-Hussien, Investment Associate, Accelerate Fund II & III. “We’ve been impressed with CARE Group’s strong traction to modernize and digitize mental health treatment within clinics and agencies, rural communities and indigenous communities. We are excited to support the team’s continuing success.”
CARE Group will use the funds to accelerate its growth, expand into new markets across Canada and the U.S., and further build its team.
About the CARE Group of Companies
The CARE Group of Companies is a private Canadian MedTech and mental healthcare company focused on healthcare innovation. Learning from decades of established, operational experience in primary care, bricks and mortar medical clinics, pharmacies and the health and wellness sector – our group has deep experience and insights as the provider of choice for millions. Enterprise clients include public and private organizations, government and educational institutions, NGOs, and non-profit, charitable sector agencies.
About Accelerate Fund III
Accelerate Fund III is an early-stage angel co-investment fund in Alberta. We co-invest alongside angel investors in financing rounds and will typically invest up to $500,000 on the same terms and conditions as private investors. We work with formal angel groups, super-angels, family funds, and individual angel investors. Accelerate Fund III invests in private, early-stage Alberta companies in knowledge-based industries including: information and communications technology, energy technology, as well as life sciences, including agriculture and biotech. Accelerate Fund III is managed by Yaletown Partners with the support of The A100. Alberta Enterprise Corporation is Accelerate Fund III’s lead limited partner with support from other investors, including Opportunity Calgary Investment Fund.
Media Inquiries:
Accelerate Fund III
Jen Schultz
Material Insight
403.975.0241
Jen @ materialinsight.com